LEXINGTON, Mass.--(BUSINESS WIRE)--Pulmatrix, Inc., announced today that it has initiated a collaboration with Cystic Fibrosis Foundation Therapeutics, Inc. (CFFT), the nonprofit drug discovery and development affiliate of the Cystic Fibrosis Foundation, to accelerate the clinical development of Pulmatrix's lead iCALM™ inhaled drug candidate, PUR118, in cystic fibrosis. Under the terms of the collaboration agreement, CFFT will provide Pulmatrix with up to $1.4 million in upfront and milestone-driven funding for the effort, along with introductions to world-class cystic fibrosis academic researchers and access to critical research insight and resources. The CFFT award will support Pulmatrix’s phase 1b clinical trials of PUR118 in cystic fibrosis (CF) to reduce the risk of acute exacerbations in CF patients.